Sunday, May 18, 2014

Just in case you were under the illusion that rampant inequality was a distinctly American phenomenon, here's a new report from Britain:

The 1,000 richest people in Britain saw their wealth rise 15% last year to £519bn, latest figures have revealed.

Despite many people's wages falling in real terms, The Sunday Times' annual Rich List suggests the most well-off Britons now own the equivalent of a third of the country's gross domestic product (GDP).

As well as the familiar names of Sir Richard Branson, Roman Abramovich and Sir Philip Green, the 2014 list features a number of new entrants.

They include Riccardo Zacconi, chief executive of King Digital Entertainment, and three other staff at the company behind the hugely popular Candy Crush Saga game.

Former Tesco boss Sir Terry Leahy and the man who masterminded the Grand Theft Auto franchise, Dan Houser, also join the top 1,000.

Philip Beresford, who has compiled the Rich List since 1989, said: "I've never seen such a phenomenal rise in personal wealth as the growth in the fortunes of Britain's 1,000 richest people over the past year.